The competitive advantages of Yucatan to attract Foreign Direct Investment are undeniable and proof of this is the historical record that this figure accumulated in 2022 reaching 535.9 million dollars, according to the Ministry of Economy. This amount is equivalent to 2.6 times the figure registered during 2021, and came mainly from the United States, Canada, Argentina and Spain.

Currently in Yucatan there are about 260 projects that accumulate 118 billion pesos through the operation of companies such as Airbus, Tesla, Amazon, Walmart, Accenture and Leoni, to name a few.

Check here: What do employees value about the spaces where they work?

These investments land in the region and demand industrial, commercial and corporate assets that are complemented by the services and endowments related to these activities, mainly in Mérida. In the case of corporate investments, the start of gross demand in the first quarter of the year was equivalent to what was registered in 1Q 2022, close to 3,000 square meters.

Demand has continued to be concentrated in areas of less than 100 square meters, although a transaction of more than one thousand square meters in a Class A building on the Montejo submarket stands out. However, the Boulevard Garcia Lavin and Cabo Norte submarkets account for close to 60% of the gross demand in this quarter.

Currently the availability exceeds 190 thousand square meters with the largest number of options below 200 square meters. The market has a dozen offices ranging from 800 square meters to 9.5 square meters, this last option is presented in the same Class A building located on the Montejo submarket and whose standard floors are 1.2 thousand square meters.

Of interest: Solili Offices Report Q1 2023, demand grew strongly and vacancy continues to decrease

In the field of construction, there is good progress with works totaling 40 thousand square meters. However, no works were completed in the first quarter of 2023, although the pace of execution of large-volume buildings such as The Sky and the second tower of the Vía Montejo complex, which mark a new building profile in Mérida, is expected to continue. .

The market in the city is in the process of development, which is why you can see more and more projects announced for months that include an office component. As examples we have the Mérida Art District and Paseo Country. 

Both propose an entire community in which both shops, hotels, work areas, housing, recreational areas and, in the case of the former, areas dedicated to culture and art, are at hand. Both are in the Cabo Norte submarket and the first is expected to start work during the second quarter.